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Fairfax Media Limited Announces Chief Financial Office Succession

FAIRFAX MEDIA LIMITED

ANNOUNCES CHIEF FINANCIAL OFFICER SUCCESSION

SYDNEY, 18 October 2012: Fairfax Media Limited [ASX:FXJ] today announced
that Brian Cassell will be retiring as Chief Financial Officer. David Housego has
been appointed as his successor and will commence with the Company on
3 December 2012.

Mr Cassell will step down as Chief Financial Officer but will remain with the
Company for a period to assist with transition and a number of projects. It is
expected that these responsibilities will conclude at the end of 2013.

Mr Housego was previously the Executive Director and Chief Financial Officer of
WorleyParsons Limited until 2011.

Chief Executive and Managing Director, Greg Hywood, said: “We are fortunate to
have had Brian’s commitment and expertise at Fairfax. His contribution to this
Company has been outstanding and we will be sorry upon his departure. Brian
joined Rural Press as General Manager of Finance in 1992, coming across to
Fairfax in 2007 with the acquisition of Rural Press. He was appointed Fairfax’s Chief
Financial Officer in 2009 and in my time as Managing Director I have appreciated
his detailed knowledge of the financial operations of our business and his informed
perspective. Most recently, he has played an invaluable role in establishing the
Fairfax of the Future program which is delivering exceptional results for Fairfax.”

Commenting on Mr Housego’s appointment, Greg Hywood, said: “We are very
pleased to welcome someone of David’s calibre to this key executive role. David
earned a fine reputation at WorleyParsons for financial management and reporting,
as well as investor relations, during a period of strong growth and
internationalisation of the business, as well as for his leadership during the financial
crisis. He is widely respected in financial markets.”